What are the advantages of a promissory notes?

Promissory notes offer several advantages, including simplicity and flexibility, as they can be easily drafted and customized to meet the needs of both parties. They provide a clear, written record of the loan terms, which helps prevent misunderstandings. Additionally, they can facilitate quicker transactions compared to formal loans, and they can be used as a legal tool to enforce repayment if necessary. Overall, promissory notes are a practical option for personal loans and informal agreements.